Paramount's Jim Gianopulos explains why profitability is only the first step in rebuilding the studio

Jim Gianopulos has not had a particularly easy job since taking office as CEO of Paramount Pictures in 2017 – a year after the over $ 450 million loss of the once-iconic studio.

"The pullback was about as dark as possible, especially for a big studio," Gianopulos said Wednesday at Bank of America Merrill Lynch's annual media and entertainment conference. "For the first year in four years now, we have come first and foremost to make a profit. Being profitable is a good thing. to be profitable at the level we should be is the next step. "

How does Gianopulos get to the next stage? Well, a dive into the box office's recent box office successes and its list of upcoming movies gives an insight into this response.

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The rebounding narrative of Paramount came true last year with box-office successes such as "Mission: Impossible – Fallout" ($ 791.1 million) and "A Quiet Place" ($ 340.9 million). dollars). And Paramount has released 10 films, with the box office contribution of two reports from 2017.

It's a change of strategy for the studio and an important element to help him succeed, according to Gianopulos.